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<TR>
<TD><IMG ALT="ICCF logo" SRC="images/logokl.gif" HEIGHT=87 WIDTH=141 ALIGN="LEFT"> </TD>
<TD ALIGN=right><FONT SIZE=2>
Stichting ICCF Holland<br>
Clematisstraat 30<br>
5925 BE  Venlo<br>
The Netherlands<br>
<br>
tel. 077 - 3872340<br>
giro 4548774<br>
KvK Venlo S 64588<br>
<A HREF="http://www.vim.org/iccf/" target="_top">www.vim.org/iccf</A>
</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=5>Financial report 1999</FONT></P>

<TABLE BORDER CELLSPACING=2 CELLPADDING=7 WIDTH=618 SUMMARY="assets">
<TR>
<TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>Overview of assets and liabilities</FONT><br>
<FONT SIZE=1>(in Dutch guilders)</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="CENTER"><FONT SIZE=3>1999</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="CENTER"><FONT SIZE=3>1998</FONT></TD>
</TR>
<TR>
<TD WIDTH="51%" VALIGN="TOP"><P><FONT SIZE=3><B>Assets</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="51%" VALIGN="TOP"><FONT SIZE=3>sponsor contributions</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>15,558</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>13,145</FONT></TD>
</TR>
<TR>
<TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>one-time donations</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>17,759</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>8,908</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>sale of Vim</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>0</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>0</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>interest</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9</U></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7</U></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3><B>total</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><B>33,326</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><B>22,060</B></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3><B>Liabilities</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>contributions towards the project in Uganda</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>33,054</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>21,646</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>expenses</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;foundation expenses</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="LEFT"><FONT SIZE=3>&nbsp;&nbsp;&nbsp;64</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="LEFT"><FONT SIZE=3>&nbsp;&nbsp;&nbsp;78</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;bank expenses</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="LEFT"><FONT SIZE=3>&nbsp;208</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="LEFT"><FONT SIZE=3>&nbsp;248</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;administration expenses</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="LEFT"><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="LEFT"><FONT SIZE=3>&nbsp;&nbsp;&nbsp;88</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;interest</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="LEFT"><FONT SIZE=3><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</U></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="LEFT"><FONT SIZE=3><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</U></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>total expenses</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272</U></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414</U></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3><B>total</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><B>33,326</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><B>22,060</B></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3><B>Balance</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><B>nil</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><B>nil</B></FONT></TD>
</TR>
</TABLE>


<P><FONT SIZE=3><B>Explanation</B></FONT></P>
<P><FONT SIZE=3>The assets and liabilities show that the total assets have
grown 51% in 1999, compared to 1998.  Both the contributions from sponsors as
well as the one-time donations have grown considerably compared to 1998.
There has been no sale of Vim in 1999.  Donations have been received for
the use of Vim, but this is not mentioned separately, because it is not always
clear if a donation was because of using Vim.  In the next table can be seen
that, despite the growth of the assets, the share from the sponsors has become smaller.  There have been two remarkable large one-time donations, which causes this ratio to be different in 1999.</FONT></P>
<TABLE BORDER CELLSPACING=2 CELLPADDING=7 WIDTH=625 SUMMARY="percentages">
<TR><TD WIDTH="52%" VALIGN="TOP">
<FONT SIZE=3>Assets in percentages</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>1999</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>1998</FONT></TD>
</TR>
<TR><TD WIDTH="52%" VALIGN="TOP">
<FONT SIZE=3>sponsor contributions</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>47 %</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>60 %</FONT></TD>
</TR>
<TR>
<TD WIDTH="52%" VALIGN="TOP">
<FONT SIZE=3>one-time donations</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>53 %</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>40 %</FONT></TD>
</TR>
<TR><TD WIDTH="52%" VALIGN="TOP">
<FONT SIZE=3>sale of Vim</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3><U>   0 %</U></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3><U>   0 %</U></FONT></TD>
</TR>
<TR><TD WIDTH="52%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>100 %</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>100 %</FONT></TD>
</TR>
</TABLE>

<P>
<FONT SIZE=3>
We aim at very low costs.  The goal is to limit the costs to 5% of the
assets.<br>
The assets and liabilities show that the cost in 1999 was 0.8% of the total
assets.  Thus the goal has been met by a large margin.  The largest part of
the costs are the for the bank.  They are mostly for transferring the money to
Uganda and to cash foreign donations.
</FONT>
</P>
<TABLE BORDER CELLSPACING=2 CELLPADDING=7 WIDTH=612 SUMMARY="balance">
<TR>
<TD WIDTH="32%" VALIGN="TOP">
<P><FONT SIZE=3>Balance at December 31</FONT><br>
<FONT SIZE=1>(in Dutch guilders)</FONT></P></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>1999</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>1998</FONT></TD>
<TD WIDTH="29%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>1999</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>1998</FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="29%" VALIGN="TOP">
<FONT SIZE=3>Fixed assets</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>nil</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>nil</FONT></TD>
</TR>
<TR>
<TD WIDTH="32%" VALIGN="TOP">
<FONT SIZE=3>Fund balances</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><U>3,112</U></FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><U>5,534</U></FONT></TD>
<TD WIDTH="29%" VALIGN="TOP">
<FONT SIZE=3>To be send to the project in Uganda</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><U>3,112</U></FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><U>5,534</U></FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">
<FONT SIZE=3><B>total</B></FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><B>3,112</B></FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><B>5,534</B></FONT></TD>
<TD WIDTH="29%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><B>3,112</B></FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><B>5,534</B></FONT></TD>
</TR>
</TABLE>

<P><FONT SIZE=3><B>Explanation</B></FONT></P>
<P><FONT SIZE=3>
As can be seen from the balance, the foundation does not have fixed assets.
All assests are send to the project in Uganda, after reduction by expenses.
</FONT></P>

<P><FONT SIZE=3>
The balance (only at a bank) are lower by the end of 1999 than they were in
1998, but still quite high.  The reason is that quite a few of the donations
are received in December.  Early 2000 most of the balance will be send to
Uganda.  To reduce banking costs larger amounts are transferred at a time.
</FONT></P>

<P><FONT SIZE=3><B>Expectations for 2000</B></FONT></P>
<P><FONT SIZE=3>
January 2000 there are 36 sponsors.  The monthly income is fl 1317.  We
hope to further increase the number of sponsors in 2000.  Therefore we expect
that the total income from sponsors will be higher in 2000.<br>
The income from one-time donations and sale of Vim are, considering their
incidental nature, hard to predict.  Considering that two large donations have
been received in 1999, it is very well possible that the income from one-time
donations will decline in 2000.
</FONT></P>

<P>&nbsp;</P>
<P><FONT SIZE=3>Venlo, February 16, 2000,</FONT></P>
<P><FONT SIZE=3>Bram Moolenaar, treasurer.</FONT></P>

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<small>
For comments on the ICCF Holland pages and for more information contact
Bram Moolenaar (Bram AT iccf-holland DOT org).
</small>

<br>
<small>
Information about these pages, privacy, etc.:&nbsp;&nbsp;
<A HREF="colofon.html" target="_top">colofon</A>
</small>

<br>
<small>
These pages are available at:&nbsp;&nbsp;
<A HREF="http://iccf-holland.org" target="_top">iccf-holland.org</A>&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="http://www.iccf.nl" target="_top">www.iccf.nl</A>
</small>

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